China's Economic Activity Cooled Further in August

BEIJING--China's economic activity cooled further in August, as the coronavirus outbreaks and stringent control measures hurt consumer demand and factory production.

Retail sales, a key gauge of China's consumption, grew 2.5% from a year earlier in August, down sharply from July's 8.5% growth, according to data released Wednesday by the National Bureau of Statistics. The result was also much lower than the 6.3% growth expected by economists polled by The Wall Street Journal.

Industrial output in August rose 5.3% from a year earlier, decelerating from a 6.4% increase in July and below the 5.6% pace anticipated by the surveyed economists.

China's fixed-asset investment increased 8.9% in the January-August period, compared with the 10.3% pace recorded in the first seven months of the year. Economists expected FAI to grow 8.8%.

China's urban surveyed unemployment rate stayed unchanged at 5.1% in August, said the statistics bureau.

Write to Singapore Editors at singaporeeditors@dowjones.com


  (END) Dow Jones Newswires
  09-14-21 2227ET
  Copyright (c) 2021 Dow Jones & Company, Inc.

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.